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KOFY
Dec 31, 2012 9:00pm PST
major step to avoid the fiscal cliff. after days of intense negotiations white house and senate republicans reached a deal and vice president biden went up to the capitol hill to sell it to senate democrats. >> happy new year. >>reporter: biden swooped in at the 11th hour to hammer out a way forward with mcconnell. the agreement would permanently extend the bush tax cuts for individuals making under 40 400,000 holding making under 4 50,000. raise the estate tax valued at more than 5 million dollars and extend unemployment benefits for 1 year for some two million people. and those automatic spending cuts go into effect in the new year postponed for two months. and paid for by other spending cuts. house could take up the deal tomorrow. taxpayers would have felt the impact of the fiscal cliff immediately. if the deal passes afternoon american family avoid tax increase of more than 3400 dollars. . officials told that you say this is a compromise so we don't love it but it's the right thing to do for the economy. karen travers abc news washington. >> wreaths talk about the weather on
KOFY
Dec 28, 2012 9:00pm PST
brings some progress toward avoiding the fiscal cliff which is coming very soon. just a couple of days. tonight the president called the meeting constructiv constructive. mark matthews has look at the cost of going over the fiscal cliff if we do. >> president is optimistic but if deal can't be reached this weekend he will tell senate leader reid tiny introduce a fall back bill. >> bill on the floor that make sure that taxes on middle class family don't go up. that unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion dollar drop in the nation gross domestic product. that's the value of all the goods and services produced. for california it means defense sp
KOFY
Dec 29, 2012 9:00pm PST
leaders allow it to come to a vote. >> we can still avoid going over the fiscal cliff if the president and democratically controlled senate step forward to solve this problem and solve it now. >> frustration over the impasse runs from wall street where the dow is down 400 points to main street. >> this is america. they should be working for the american people. >> the parties are trying to outdo each other. >> sit down and don't come out of this that room until you have taken care of. >> the shows back in session that afternoon and could vote on the senate version. >>> a south is a san francisco retired ee is now $23 million richer. he bought a winning ticket at pharmacy in san francisco before christmas but he didn't discover high won when a friend remind himd to check his ticket. he hasn't decided what to do with the money. >>> coming up, a look at the most piratedtv series this year. plus, an amazing video of people helping friends stuck at a prison. a new gaming system so the way. we'll look inside. we'll find out what is helping populations in asia. >> i'm meteorologist
Search Results 0 to 2 of about 3